Peavine Capital Management buys $946,338 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Peavine Capital Management scooped up 200 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 21,800 shares of Abbott Laboratories which is valued at $946,338.Abbott Laboratories makes up approximately 0.45% of Peavine Capital Management’s portfolio.

Abbott Laboratories opened for trading at $43.18 and hit $44.01 on the upside on Monday, eventually ending the session at $43.95, with a gain of 1.24% or 0.54 points. The heightened volatility saw the trading volume jump to 42,68,804 shares. Company has a market cap of $64,749 M.

Other Hedge Funds, Including , Somerset Trust Co boosted its stake in ABT in the latest quarter, The investment management firm added 713 additional shares and now holds a total of 20,809 shares of Abbott Laboratories which is valued at $903,319. Abbott Laboratories makes up approx 0.59% of Somerset Trust Co’s portfolio.Gofen Glossberg Il boosted its stake in ABT in the latest quarter, The investment management firm added 15,279 additional shares and now holds a total of 445,910 shares of Abbott Laboratories which is valued at $19,356,953. Abbott Laboratories makes up approx 0.81% of Gofen Glossberg Il’s portfolio. Peachtree Investment Advisors sold out all of its stake in ABT during the most recent quarter. The investment firm sold 5,036 shares of ABT which is valued $218,613.Chelsea Counsel Co reduced its stake in ABT by selling 137,853 shares or 62.68% in the most recent quarter. The Hedge Fund company now holds 82,078 shares of ABT which is valued at $3,486,673. Abbott Laboratories makes up approx 1.01% of Chelsea Counsel Co’s portfolio.

On the company’s financial health, Abbott Laboratories reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.61. The company had revenue of $5188.00 million for the quarter, compared to analysts expectations of $5254.57 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Company shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 45 from a previous price target of $51 .

Abbott Laboratories (Abbott) is engaged in the discovery development manufacture and sale of a range of health care products. Abbott operates in four business segments: Established Pharmaceutical Products Diagnostic Products Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Diagnostic Products segment includes the sales of a line of adult and pediatric nutritional products. The Nutritional Products includes the sales of diagnostic systems and tests for blood banks hospitals commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary endovascular structural heart vessel closure and other medical device products.

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